In its recent report on earnings of oil and gas sector, Angel Broking said it expected mixed profitability performance of the companies in this sector during Oct-Dec 2012 quarter.
The brokerage expects the top-line of Reliance Industries (RIL) to rise 5.7 percent yoy on account of higher prices of petrochemicals. However, its operating profit is expected to decrease 0.8 percent yoy mainly owing to decline in production from the KG D6 block, the report said. Nevertheless, its PAT is expected to increase by 15.0 percent yoy mainly owing to increase in other income.
The brokerage expects net sales of ONGC to rise 6.5 percent yoy while its operating profit is expected to decrease 10.1 percent yoy owing to higher employees cost.
GAIL is expected to report a top-line growth of 6.4 percent yoy on account of increase in volume. Its net profit is expected to increase by only 5.1 percent yoy owing to higher top-line growth.
Cairn India’s net sales are expected to increase 47.8 percent yoy mainly on account of increase in volumes; its operating income is also expected to increase by 40.2 percent yoy. Its bottom-line is expected to increase by 52.3 percent mainly owing to increase in operating income.
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